Posts by Y@DminG

Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New … Source: Claims Journal

A federal jury in Marshall, Texas, on Friday awarded computer memory company Netlist $118 million in damages from Samsung Electronics in a patent lawsuit over technology for improving data processing in high-performance memory products. The verdict follows a $303 million … Source: Claims Journal

As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical to watch include pharma class actions, the … Source: Claims Journal

HDI Global added Tom Major as a chief claims officer. The appointment takes effect Feb. 7, 2025. Major will join the executive team, reporting to Stephanie Ogden, CEO, UK and Ireland. Major comes from Allianz, where he currently serves as … Source: Claims Journal

Insurance rating agency AM Best today said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. Underwriting results have improved significantly, … Source: Claims Journal

California Gov. Gavin Newsom is promising to step in with a state electric-car tax credit if US President-elect Donald Trump repeals a federal subsidy after he takes office next year. Newsom, a prominent Democrat and frequent critic of Republican politics, … Source: Claims Journal

Global non-life premiums are expected to hit a decade-high growth level of 4.3% in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma. “Premium rates are now moderating, … Source: Claims Journal

Insurance carriers and restoration teams face a cascade of challenges. The increasing frequency and severity of climate-induced catastrophes, such as Hurricanes Helene and Milton, have pushed some carriers out of high-risk areas, which has played a part in the 17.4% … Source: Claims Journal

A projected 79.9 million U.S. travelers will head 50 miles or more from home over the Thanksgiving holiday travel period, an increase of 1.7 million compared to last year and 2 million more than in 2019, according to the American … Source: Claims Journal

Gunmaker Sig Sauer Inc. was ordered by a Pennsylvania jury to pay $11 million to a customer who alleged defects in one of the company’s pistols led it to go off without him pulling the trigger. Jurors in state court … Source: Claims Journal